KING ABDULLAH ECONOMIC CITY INDUSTRIAL VALLEY WINS IFM AWARD FOR FASTEST GROWING INDUSTRIAL ZONE IN GCC
King Abdullah Economic City, 21st March 2018:
The Industrial Valley (IV) in King Abdullah Economic City (KAEC) has been awarded by the prestigious International Finance Magazine (IFM) for 2017 Fastest Growing Logistics and Industrial Economic Zone in the GCC region in the logistic supply, industrial economics and advanced infrastructure.
The award was presented to the Industrial Valley CEO Eng. Ayman Mansi at a ceremony held at Jumeirah Emirates Towers in Dubai, UAE.
The Industrial Valley is now considered the main logistics and industrial hub in the region. It is a major source of employment opportunities for national competencies and an integral part of the added economic value that KAEC contributes towards the realization of Vision 2030. The Industrial Valley has already distinguished itself as one of the most significant investment destinations in the Kingdom. With the growth of KAEC and the adjacent King Abdullah Port (KAP) to support it, the Industrial Valley is now home to a growing number of major Saudi, regional and global companies.
Eng. Mansi praised the level of efficiency that has resulted from the Industrial Valley’s advance planning and a carefully considered infrastructure that is instrumental in meeting the demands of investors eyeing the Valley as a location for their activities. The logistic zone is the largest area for logistics companies, which will contribute to variety of solutions of the investors’ empowerment in the industrial sector targeted in the economic city.
The London-based IFM presents awards to institutions that meet the highest standards of quality as well as the utilization of modern technologies in their respective industries.
The Industrial Valley was singled out for a number of criteria contributing to its growth and success. In a short time, the Industrial Valley has successfully completed implementation of its infrastructure and has attracted a significant number of manufacturing plants that are already up-and-running in addition to many that currently are under construction. Additional features that appealed to IFM were the amount of development that has taken place, the Valley’s direct link to King Abdullah Port, the smooth facilitation of effective procedures and services, the rate of development and diversification of products, the creation of jobs, and the Industrial Valley’s capacity to become a part of an extensive, integrated economic city.
As part of its overall plan to become a manufacturing and logistics hub, the Industrial Valley has attracted more than 10 companies in the pharmaceuticals industry and more than 35 logistics companies, the most of any similar facility in the region.
About King Abdullah Economic City
King Abdullah Economic City (KAEC) is the largest privately-funded new city in the world. Situated on the west coast of the Kingdom of Saudi Arabia, KAEC covers an area of 181 square kilometers of land, approximately the size of Washington DC. KAEC comprises King Abdullah Port, the Coastal Communities residential districts, the Haramain Railway district and the Industrial Valley. The city is under development by Emaar, The Economic City, a publicly listed Saudi joint-stock company established in 2006.